IBM appoints First Female CEO....!!!!!!!!!!!

IBM global sales chief Virginia Rometty will take over as CEO from Sam Palmisano in January, becoming one of the most powerful women in business and technology today.

In taking the helm of the storied industry icon, she makes it the largest U.S. corporation by value to be headed by a woman.

IBM, which over the decades had a reputation of being a strait-laced, plodding, male-dominated business empire, will formally appoint the 54-year-old engineering and computer science graduate its first female CEO on Jan 1.

The selection went down well with Silicon Valley and Wall Street, especially because the 60-year-old Palmisano -- who helped transform Big Blue from a computer hardware company into a global services and software behemoth -- is staying on as chairman.

"Given Ginni's experience running the largest portion of the business by revenue, she was a logical choice," said Macquarie Securities analyst Brad Zelnick.

Her ascension will set up a rivalry with Hewlett-Packard CEO Meg Whitman for the mantle of most powerful woman in technology, mirroring a long-running rivalry between the two companies.

Rometty joins a relatively small circle of top female CEOs, including Whitman, Pepsico's Indra Nooyi, Xerox's Ursula Burns, Kraft Foods' Irene Rosenfeld and DuPont's Ellen Kullman.

Rometty -- who most recently served as senior vice president of global sales -- made her mark with the smooth 2002 integration of PriceWaterhouseCooper's consulting arm, a landmark move that catapulted IBM into the upper echelons of the technology consulting business.

Colleagues say that Rometty, often clad in elegant pastel-colored suits, cut a striking figure in IBM's staid hallways and impressed co-workers with both her cool-headedness and enthusiasm.

"She exudes energy," said Nelson Fraiman, professor at the Columbia University Graduate School of Business.

Fraiman, who has known the computer science and electrical engineering graduate from Northwestern for about a decade, said she was a good strategist and an early advocate for IBM's expansion into business analytics, or tools and services that help companies quickly analyze trends.

"She thinks in a very analytical way. That's part of her engineering training," he said.

One former IBM executive said Rometty -- who sometimes carries a backpack rather than a briefcase -- worked long hours and demanded that her subordinates do the same.

"People who work for her just don't sleep," said the source. "She has a style that is very different from anybody else's, but is all her own."

THE TRANSFORMATION

In nine years as IBM's leader, Palmisano exited low-margin businesses including PCs, printers and hard drives. He expanded the company's offerings in services, consulting and software.

Since the former history major took the reins, Big Blue's stock has outperformed HP's and matched Oracle's, according to Thomson Reuters data.

Wall Street appeared to approve of the choice of Rometty, and some analysts said that Palmisano had put in place a structure that would ease the way for anyone to follow in his footsteps.

Sources told Reuters in 2010 that Rometty had rebuffed advances from arch-rival HP, which was then looking to replace the ousted Mark Hurd, to stay at the company where she was seen as a rising star.

"She has done well at IBM. She has contributed to their expansion overseas -- emerging markets -- and has done a fantastic job in that space," said Morningstar analyst Sunit Gogia. "All the public knowledge about her performance is very encouraging."

But "computing is an industry that is always evolving," Gogia said. "It's moving into an era of cloud computing. The company will have to reinvent itself for the future, stay with the times and maintain the revenue base when they do that."

Shares in IBM slipped about a dollar from their $180.36 close following the announcement

Indian Billionaires and Their Private Jets

When air travel is in question, the rich and famous fly in their own private jets. Equipped with luxurious interiors to suit their rich taste, private planes such as Gulfstream, Boeing and Bombardier make the trips of wealthy owners more comfortable and enjoyable.

Billionaires simply are not comfortable flying in a commercial plane carrying ordinary citizens. They need their own aircraft, with private services, items and equipments, usually not allowed in commercial flight.

Here are some Indian billionaires and their private jets.

1. Mukesh Ambani

 

Mukesh Ambani, the country's richest man and chairman of Reliance Industries owns a private Boeing Business Jet 2, a 1,004 sq. ft. plane worth 225 crore, with a private bedroom suite and state of the art amenities. His list of personal aircrafts also includes a Falcon 900EX jet and a custom fitted Airbus 319.

The aircraft comes with the additional option of creating personal environment. For example, instead of having a living room-dining room-master bedroom-bathroom layout, the owner can opt for two bedrooms and two bathrooms.

2. Atul Punj

 

The chairman of the successful Punj Lloyd Group is the owner of a lushly appointed Gulfstream IV that has been changed to suit his tastes, through upgradation and structural improvement in wings, and 30 percent fewer parts.

The aircraft is large enough to hold two beds, has a shower room and a luxury living room. The private jet is worth 170 crore.

3. Anil Ambani

 

The Global Express is the ultra long range business jet developed by Bombardier Aerospace. Bill Clinton and Steven Spielberg are among the proud owners of such jets. Anil Ambani is the owner of this jet worth 200 crore in India.

Bombardier's 14.73 meter long cabin boasts of a noise and vibration cancellation system, making it easier to hold meetings on board. Customized interior layouts include office, stateroom and a conference-style area. The jet can fly over 5,950 nautical miles.

Anil Ambani also owns a Falcon 7X and a Falcon 2000.

4. Ratan Tata

 

An avid aviator, Ratan Tata pilots his own fleet of corporate jets that include the Falcon 2000 with its wide cabin, offering a high level of comfort, and is worth 115 crore.

The Falcon made by Dassault, the French aviation major, is run by Taj Air, a company owned by him. Tata likes to fly his private jet himself. He has a Falcon Jet that is no longer used for commercial aviation.
5. Vijay Mallya

 

Liquor baron and Kingfisher Airlines chairman Vijay Mallya owns the high-end A319-13-ACJ worth 225 crore. He spent another 160 core on retro-fitting and fireproof upholstery. The A319 is one of the smaller members of Airbus' highly successful single-aisle airliner family and can fly to London or the United States with a single refueling halt.

Boasting of plush interiors, it has the capacity to seat 24 people and has 6,000 cubic foot of living space. Apart from the A319, he also owns a Gulfstream, a Hawker and a Boeing 727. The French and Brazilian heads of state also use this model.
6. Lakshmi Mittal

 

The steel baron Lakshmi Mittal, owner of the world's largest steel company Arcelor Mittal uses his Gulfstream G550 to move around three countries in a day. It is worth 200 crore and can reach speeds of 675 miles per hour. This jet is a pleasure to fly for any pilot and can hold eight passengers.
7. Gautam Singhania

 

Gautam Singhania, chairman of Raymond Group is famous for his passion for expensive toys like supercars, luxury yachts and aircrafts.

He owns a Canadair Challenger 604 business jet worth RS.110 crore. The luxurious interior of the Challenger was designed by Eric Roth. The beige and brown interiors of Singhania's jet features an advanced Collins ProLine IV EFIS avionics system with colour displays and increased fuel tankage.

8. K P Singh

 

India's biggest real estate developer DLF's chairman, KP Singh owns a Gulfstream IV, worth 170 crore.

The Gulfstream IV is a significantly improved, larger, longer range and advanced version of the earlier Gulfstream II and Gulfstream III models.

Samsung Announces $1 million Contest for Application Developers

Electronics product maker Samsung announced the bada 2.0 Power App Race, a global application contest hosted by the Samsung bada developer site which offers developers chance to win up to $100,000.

"We are excited to launch the bada 2.0 Power App Race, which will help boost the bada developer community by encouraging innovation in bada apps from developers all around the world," Kang-hyun Kwon, Senior Vice President of Media Solution Center, Samsung Electronics said in a statement.

The company said it will select 10 applications which will include five game applications and five non-game applications. All the 10 applications will be jointly awarded $1 million.

The company has no limit on number of applications developers want to enter. Entries are open and will close at midnight on December 31. 

Friend Request on Facebook Can be Cyber Attack

Cyber fraudsters targetted users of social networking site Facebook with a range of 'friend request' emails to draw them into downloading a banking Trojan, says a report by IT company Cyberoam.

"Malware authors and scammers of today are well acquainted with the behavioral psychology of Facebook users. Many of them are intelligent but won't think twice before accepting a friend request from someone they don't know," said Abhilash Sonwane, Senior VP, Product Management, Cyberoam, while releasing October 2011 Internet threats trend report.

Cyberoam conducted this study in partnership with IT security solution company Commtouch.

"Facebook continues to draw the attention of malware authors. An August attack used a range of 'friend request' emails to draw recipients to a download of a banking Trojan," the report said.

The company also noticed people getting lured by 'Free' offers on Facebook which led them to spread spam to their friends as well. The study found an ubiquitous Facebook 'like' button harnessed by advertising scammers to lure users into receiving free merchandise like iPhone 4.

Those wanting to receive the 'free' merchandise were asked to like several pages, provide their shipping addresses and forward the invite on to 100 or so friends - thus ensuring the spread of the scam. The pages were liked by hundreds of thousands of Facebook users, the report said. 

My Most Memorable/Unfortunate Incident in Life !!!!!!!!!

Hi my dear friends and warm greetings to everyone. It’s been months I have been idle and not posted anything in my blog and I was waiting for someday to write this up and I got some time yesterday to start with and here it goes. My most memorable incident in my life. Everyone will have their own. But just read mine which is something different which u could have seen in movies. No hype. Okie as all know and for the fresh chaps, my name is JS and I work for Voltas Limited IOBG (Indian MNC) in Doha-Qatar for past 3 years right after my college. Coming to the topic, right from my childhood through school, college and corporate life I have encountered this question several times. But I was not able to think immediately of any good / bad unforgettable incident in my life. Because most were my pleasant ones and indeed there were many. But after December 13, 2009 I had/have an answer which was/is a deterrent example to many who enter, survive and live here in middle-east. Let me stop the intro and narrate what exactly happened.

I returned back from my one month enjoyable vacation on December 1^st week. In last minute hurry-burry, my relative chipped in a parcel with me to send it to Dubai-UAE from Doha. I was unaware of the stuff, the package has got within. She executed it thru’ me, as it takes minimum 20 days if she sends it from India to Dubai. So to cut short, she told me to send it from Doha as it reaches within 4-5 days reducing quite good count of days.

After arriving here, I mailed to Dubai thru’ Q-post and forgot the same. After 2 days (i.e.) on 13^th December, 2009, I got a call from Qatar Customs Authority and was told that my parcel was not sent and kept on hold. Actually they called me for a formal enquiry. To note here, during that period I was working on a US Air-Base project at Al-Udeid, one of the prestigious projects for Voltas in Doha-Qatar. For security reasons, we have to submit our Qatar ID card (so called Pathaka) at the entrance with US Army. Knowing that I was going to customs and will return back, the security didn’t return the ID card back and I went along without my pathaka.

Once I reached customs office, they opened the parcel in front of me and they found “Taaveez” inside. It’s also called Tabiz, Thayath or kavacha. Most of the people in India know about it. Let me explain to those who don’t know about it. Taaveez is a hollow cylinder with different stuff inside like verses from some holy book or some object that is believed to protect from evil eyes. The so-called belief put my life on stake that day.

On ascertaining the same, the custom officers discussed among themselves in Arabic language. I was so lucky (!!!!) that I doesn’t know to speak or understand Arabic. Then they asked me the Qatar ID which I was not carrying with. They looked at me fiercely and started to ask questions in Arabic. I was just left amused. After almost 30 minutes, they came up with 3-4 papers written completely in Arabic for my signature and I was literally forced to sign it without knowing the content. Then around 11 AM, they nobbled and switched off my mobile and took me to Airport Police station and asked me to wait. At that moment, I thought they got me hold back, as I was not carrying my Qatar ID.

Time passed and I was left hungry until 3 PM. The officer-in-charge gave me my mobile and asked me not to switch-on. But as I thought if I call someone at office, they may bring the ID card, I brought my phone back to life. Thank GOD, luckily my phone was amply charged and I contacted my office and asked them to send me the ID card with the driver. Then I was just waiting for my driver’s arrival thinking that everything will be over soon, unaware of the proceedings over there.

Around 3:30 PM, 3-4 Qatar ISF Police (Internal Security Force) came and manacled me hyping situation black and white. I was taken along with 3-4 cops thru’ the airport arrival terminal with hand-cuffs to the police car. From there they drove me to Capital security Department and I was put up in a prison cell. Immediately I contacted our head-office and explained my situation. By that time our company PRO (Public Relation officer) was carrying my Qatar ID to Airport, wherein I called him and diverted him to capital security dept.

After 20-25 minutes, they took me again to Messaimer Police station which is around 15 Kms from the main city and was put behind bars. Until now I just believed that, all these are happening because I was not carrying my Qatar ID. Around 6 PM, my PRO reached there and submitted my Qatar ID. But the police officials were not ready to release me. My PRO conversed in Arabic with them and finally told me that, I have been arrested for carrying that “taveez” and this is my personal issue and company can’t help it out. In middle-east, particularly Saudi Arabia and Qatar were strict in following the religious principles. Belief in “GOD is one and there are no channels to reach him, only our prayers can reach him”. Being a Muslim I know all these, however they were not ready to believe me whatever I say, probably they didn’t understand English. And I was shocked when my PRO told me that the custom officials have reported me as a “magic man”. At that moment, I understood the heat of the situation and things have gone worse than I expected. My PRO told me that they will put me behind bars for 1 or 2 months and they will deport me back to India.

Realizing my situation, I called my uncle who was residing with his family in Qatar and explained him the whole story in detail and asked him if he can help me out. The cell which I was locked up was fully air-conditioned with required lighting with attached bathroom. It had a small ventilation hole at the top and the door was shielded with steel plate. I can’t control my tears and was visualizing the aftermath. My uncle came with his friends and a imam who knows Arabic at around 9 PM. They can’t do anything as the police has already filed a country crime offence against me and asked them to meet me at Public Prosecution (Court) the next day.

I was left aloft and was just praying to God to help me out who was my only hope. At around 12 AM midnight, they took me out and luckily I got one cop who understands a bit English. I explained him that I was unaware of the stuff inside and added that If I had known it earlier, I wouldn’t have taken along with me. He converted my words into Arabic sentences with his little bit English knowledge. Until that time they didn’t provide me anything to eat or drink. And was denied to drink water also. That night went like hell.

Next day early morning, I was again asked for signatures which left me totally discombobulated. I was left both physically and mentally debile. Around 7:30 AM I got a cake to eat. Then by 8 AM, I was again hand-cuffed and taken to Public Prosecution. We reached there around 8:30 AM and was again put up behind bars over there until 11 AM. Then I was ready to be taken in front of Judge. Just before that, I saw my uncle with his friends who hold higher positions in Qatar government.

Right from the point where it started from customs office and till court, no-one knew English and I understood the importance of local country language. Goodness, the Judge also doesn’t know English and I requested for a translator. They were told that am a “Mohandis” (engineer) and I told the judge what happened actually. Translator did his job perfectly it seems. After around 20 minutes, judge told something in Arabic. Later I got translated it as, that was the last excuse being given to me and if I get caught in some other issues within the country, I will deported immediately.

Then around 2 PM, they took me back to police station for legal procedures and was put up in cell until 4:30 PM. I could see them conversing angrily and starring at me with anger. They were not happy with my release. Around 5 PM, I signed on all papers whatever and wherever they shown. The cop told me “Good Luck” like the villain in “Taken” movie and was finally released completely.

I was just thinking about the incident for so many days which I couldn’t forget and however recovered with help of my friends. My family was informed that night and everyone in my family was left disturbed for next one week. I thought to share this with all, as each and everyone will be visiting new places and countries as they wish, despite not aware of the local rules and regulations ending up in strange incidents which happened to me.

Cheers guys. Do share if you have got some different, strange, good or bitter experiences like this in your life.

Will be back soon with some interesting stuff.

The world’s richest dinner party

The world’s richest dinner party
 
The heads of Apple, Google, Yahoo!, Facebook, Twitter – oh, and the U.S. President, too. Has there ever been a more powerful power lunch? And who got the bill?



From left-to-right (clockwise): Eric Schmidt, Arthur D Levinson, John T Chambers, John Doerr, Larry Ellison, Reed Hastings, John L Hennessy, Carol Bartz, Dick Costolo, Mark Zuckerberg, Barack Obama, Steve Jobs, Steve Westly, Ann Doerr

THOUGHT FOR THE DAY

While language is forming, writers are applauded for extending its limits; when established, for restricting themselves to them. -Isaac Disraeli, writer (1766-1848)

Controls can be imposed to restrict capital flows: RBI

The Reserve Bank of India (RBI) today said emerging economies, including India, could legitimately impose capital controls in response to surges in capital flows.

"It is now broadly accepted that there could be circumstances in which capital controls can be a legitimate component of the policy response to surges in capital flows," RBI Governor D Subbarao said on the occasion of the 60th anniversary celebrations of Central Bank of Sri Lanka here.

Stimulus infusion by developed nation to tide-over global financial meltdown resulted in huge capital flows to emerging markets which offered better returns. However, the surge also led to problems such as currency appreciation and erosion of export competitiveness.

Foreign fund flows into Indian capital market including debt was to the tune of $39.4 billion, while equities alone attracted investment of $29.3 billion during 2010.

During the current year, foreign investors have parked $1.6 billion in the both equities and debt market of India.

However, so far Indian monetary authorities have not put any restriction on capital inflows.

"The push factors are the easy monetary policies of advanced economies which create the capital that flows into the EMEs (Emerging Market Economies). What this says is that international capital flows comprise a structural component and a cyclical component. It is the cyclical component that typically disrupts the macroeconomic stability of EMEs," he said.

EMEs have dealt with the problem of excess flows in diverse ways depending on their macroeconomic situation. This has broadly taken one of several forms: controlling capital at entry, taxing it on entry or intervention in the forex market, he said.

Managing capital flows should not be treated as an exclusive problem of EMEs. In as much as lumpy and volatile flows are a spillover from policy choices of advanced economies, the burden of adjustment has to be shared.

Subbarao said, "Managing currency tensions will require a shared understanding on keeping exchange rates aligned to economic fundamentals, and an agreement that currency interventions should be resorted to not as an instrument of trade policy but only to manage disruptions to macroeconomic stability."

SBI opens affordable housing loan cell

The country's largest lender State Bank of India today inaugurated its first 'affordable housing loan' cell in Mumbai, which will provide a platform for its customers to interact with the bank.

The bank has initiated this as a pilot project in association with a few builders operating in the affordable housing segment, a press release issued here said.

The first facility has been set up in Nalla Sopara where the bank has its branch, the release said.

"The facility will be set up near localities where affordable housing projects are undertaken. The cell is a distinct delivery structure, which has been designed to offer a simple model for appraisal/sanction methodology suited to the segment," a bank official said.

The demand for affordable houses has not been met due to various reasons, including inadequate supply of houses as well as absence of credible builders in this field, the release said.

To begin with, the focus would be on loans in the range of Rs 8-15-lakh.

The bank would also provide ATM facility and Internet kiosks at the sites where such cells would be opened, the release said.

Customers would also have the facility of making cash payments after business hours through a customer service point of a banking correspondent at a nearby location, it said.

However, disbursement of loans would be made only through the bank's branches. 

Mozilla releases Firefox 4 for Android

Just after a week from the launch of its Firefox 4, Mozilla released the final version of Firefox 4 for Android users. Mozilla has also released a version for Maemo.

The android version of the browser is available from Google's Android market and the Maemo can be downloaded from Mozilla. Both Android and Maemo versions incorporate many features available in the desktop version of Firefox 4 and is offered in 13 languages.

The mobile version of Firefox 4 has features such as the synchronization service that lets users synchronize browser data across multiple devices for things like open tabs, bookmarks, history, passwords etc. Executives clarified that the process is secure as the data encryption is done via a 26-character key.

"Firefox for mobile allows users to take the Firefox experience they love everywhere and minimizes typing with features like tabbed browsing, bookmarks, add-ons and Firefox Sync," said a Mozilla blog post.

The open source outfit claimed that Firefox is up to three times faster than the stock Android browser. The mobile version of the browser also offers Mozilla's new JagerMonkey extension to its JavaScript engine.

With the mobile Firefox 4, users can save PDF for offline viewing, enables them to share via social-networking sites, and offers a customizable search engine list.

Firefox 4 is a free 14MB download from the Android Market that requires Android 2.0 or later.

Now, a social networking site on cricket

When India takes on arch-rivals Pakistan in a high-voltage clash at the World Cup semi-finals on Wednesday, not all cricket buffs would be hooked solely to their television sets this time.

Many of them would be simultaneously glued to their computer screens discussing ball-by-ball updates with fellow netizens on 'soch.la', which advertises itself as the world's first social cricket platform.

Combining the elements of Facebook and Twitter , the new social networking website has thousands of passionate cricket fans commenting, chatting and sharing their opinions as every game unfolds in the ongoing world cup.

Apart from being a platform to share the frenzy around the country's most popular sport, the one-of-its-kind site launched by digital marketing firm Digital Vidya also updates its users on live scores, teams and players.

"Cricket is a game which is best enjoyed with friends. Rather than just watching the match, 'soch.la' gives cricket lovers an opportunity to come together and enjoy cricket with their friends and family, while cheering for their favourite teams," the site's co-founder Pradeep Chopra told PTI.

The social network uses the Twitter's terminology of "followers" as users get updates of comments posted by those whom they are "following". On the other hand, the process of commenting on posts is similar to that of Facebook, the world's largest social networking site.

Led by the current mania over cricket due to the world cup matches and the upcoming glamour-rich IPL , the site, with an unusual domain name, is turning out to be a favourite among sport followers.

"After I logged onto soch.la during a recent match, it was for the first time that I didn't watch cricket on TV while I was at home. Unaware of Soch.la, my wife saw me smiling while I was engaged with my friends on Soch.la and enquired why I was not watching the match," said Vikas Kaushik, a cricket lover and CEO of an IT company.

The idea of the niche social network cropped up when Chopra was discussing with his IIT friends Kapil Nakra and Manas Garg few weeks ago on how to have more fun around the ongoing World Cup.

"We have always believed in creating something which is useful for us first and then making it available to others. This time we got a reason to fulfill our passion for cricket through Soch.la," says Chopra adding that they are evolving the website almost on a daily basis based on real user inputs by focusing on "user experience and user growth."

Encouraged by the positive response, the founders are now planning to monetise the venture by building up a business model around advertising and introducing "social games".

Currently, soch.la is open only for Facebook users as one need to have a Facebook account to register as a member of the website.

New age mobile apps to bring next level growth to cellular industry

According to a study done by research firm TNS, thanks to the new age mobile applications like live TV and video calling, the cellular industry will see the next level of growth.

The study says that while a majority of Indian consumers are driven by basic handset features of messaging and music, a growing proportion of young Indian consumers is expected to bring about the next level of growth for new age mobile technologies, around 'infotainment' features.

The study was conducted in 30 cities covering over 5,000 respondents. It aims at providing a wider understanding of consumer experiences with mobility, and insights into the way it will take shape in the near future.

The findings highlight that 'static' functionalities such as SMS and still imaging have become commoditised, and the growth will be driven by demand for social functionality and new demands for video calling, streaming and sharing services.

The number of mobile Web users visiting social networking sites accounts for only 3 percent in India. Social networking is expected to grow significantly with 23 percent users interested in making use of this service from their handsets, the study added.

Consumers in emerging markets like India, China and Brazil are more likely to want to upload content (49 percent), but more than half (55 percent) do not have the ability to do so.
Many emerging market users out-pace their western counterparts, and lead the demand for the latest mobile technologies, the study said.

About 31 percent consumers in India indicate that the ability to take and share pictures and video will play a major role in their choice of next device coming a close second to the handsets ability to store music (34 percent).

In India, handset brands (36 percent) are considered an important factor in product decision making and have maintained their commitment. However, content brands (29 percent to 37 percent) have leapfrogged and overpowered network brands (35 percent to 27 percent) in the last 12 months. 

ICICI Pru Life to focus on NRI segment with annuity solution

ICICI Prudential Life Insurance today said it would target the NRI segment by offering annuity solution, ICICI Pru Immediate Annuity, addressing their needs by ensuring a regular flow of income to ageing parent(s) in India.

The benefits of the product are guaranteed lifetime income for the parent(s) and return of the original investment to the NRI wherein the original investment that has been used to purchase the annuity for the parents will be repatriated to the NRI in the event of the parent passing away, the company said in a release.

The NRI purchasing 'ICICI Pru Immediate Annuity' could also earn a higher rate of interest vis-à-vis his current country of residence and it also provides an easy, hassle-free one-time transaction for the NRI with no burden of periodically transferring funds.

According to the release, the ICICI Pru Immediate Annuity carries the benefit of prompt issuance without any requirement of medical tests besides simplicity of the process for enabling regular monetary support to the dependents.

An NRI is required to open a Non Resident External (NRE) savings account and invest the principal in ICICI Pru Immediate Annuity with the beneficiary as the dependent parent(s) in India.

"We have observed that one of the most important needs of NRIs across the globe is that of gifting financial freedom to their ageing parents in India while ensuring preservation of capital," ICICI Prudential Life Insurance Executive Vice-President Tarun Chugh said in the statement.

"The ICICI Pru Immediate Annuity is tailored to suit exactly these needs," he said.

"It fulfils multiple financial goals as it not only allows the NRI customer to potentially earn a higher rate of interest than that of term deposits in his country of residence, but very importantly the funds are repatriated on the expiry of the annuity," he added.

Apple to reveal future of its operating systems

Apple announced to unveil the future roadmap of its operating systems - iOS and Mac OS X - at its annual Worldwide Developers Conference (WWDC) from June 6 in San Francisco.

"At this year's five-day conference Apple will unveil the future of iOS and Mac OS, including exciting demonstrations of the new kinds of apps that developers can build using Apple's advanced frameworks and more than 100 technical sessions presented by Apple engineers,'' Philip Schiller, Apple's senior vice president of Worldwide Product Marketing, said.

"At this year's conference we are going to unveil the future of iOS and Mac OS. If you are an iOS or Mac OS X software developer, this is the event that you do not want to miss," Schiller added.

At the June 6-10 conference, the Cupertino-based global technology giant said, Mobile developers will be able to explore the latest innovations and capabilities of iOS and learn how to greatly enhance the functionality, performance and design of their apps.

Apple said Mac developers will see and learn how to develop world-class Mac OS X Lion applications using its latest technologies and capabilities.

Developers can even bring their code to the labs and work with Apple engineers, applying development techniques and best-practices to enhance their apps, Apple said in a statement.

During the annual conference, more than 100 technical sessions will be presented by Apple engineers on a wide range of technology-specific topics for developing, deploying and integrating the latest iOS and Mac OS technologies.

Over 1,000 Apple engineers will provide developers with code-level assistance, insight into optimal development techniques, and guidance on how they can make the most of iOS and Mac OS technologies in their apps.

The gathering will be a great opportunity to connect with thousands of fellow iPad, iPhone and Mac developers from around the world, Apple said.

At the conference, Apple will also present design awards to recognize iPad, iPhone and Mac apps that demonstrate technical excellence, innovation and outstanding design. 

Hero allowed $1 Billion foreign investment

The government Tuesday allowed infusion of 4,500 crore (about $1 billion) in Hero Investments, part of the Hero group, to acquire Japanese partner Honda's stake in the two-wheeler joint venture firm Hero Honda Motors Limited.

"The Cabinet Committee on Economic Affairs today (Tuesday) approved the proposal of Hero Investments Private Limited to receive FDI (foreign direct investment) amounting to 4500 crore approximately in the investing company from Bain Capital and Lathe Investment Private Limited," according to an official statement released here.

Both Bain and Lathe are private equity firms.

Hero, in early March, said it has arranged the required finance to acquire the 26 percent holding of Honda Motor in their joint-venture company Hero Honda Motors Limited (HHML) and pegged the Japanese auto major's stake around 3,842 crore.

At the Bombay Stock Exchange, the Hero Honda stock closed the day with a 3.02 percent gain at 1,546.35 a share.

The two companies had ended their 26-year old association to pursue their own goals in the huge Indian two-wheeler market.

Honda already has a major presence in the Indian market through its wholly owned subsidiary Honda Motorcycle and Scooter India Private Limited.

India among world's top 10 manufacturing nations: UNIDO

India has secured a place among the world's 10 largest manufacturing countries as the share of major industrialised economies in global factory output fell significantly in the last decade, a UNIDO report said on Tuesday.

Efficient use of energy, helped by enhanced labour productivity and increase in exports of manufactured goods, helped the country secure its position among the top 10 industrial producers.

Even though the country had only 1.8 percent share in the world manufacturing between 2000 and 2010, India occupies the 9th position among the global leading manufacturing countries.

"Competitiveness of Indian manufactured goods in the global markets has significantly improved," Chief Statistician of the United Nations Industrial Development Organisation (UNIDO) Shyam Upadhyaya said while releasing the report.

Higher output growth rates have allowed the Indian industry to improve major performance indicators such as labour productivity, he said. The country has made significant progress in the use of energy for industrial production.

"This is borne out of the fact that in the last 10-years, India's manufacturing output grew by 7 percent average per annum while industrial energy consumption grew at much lower rate of 3.6 percent," Upadhyaya said.

The U.S. tops the list of 10-top industrial producers followed by China, Japan and Germany. Brazil was at the bottom of the list. "Ranks are not stable due to close competition of emerging economies. In the coming years, Russia, Mexico and Spain might increase their share and occupy higher position," he said.

Industrialised countries account for more than two-third of the world industrial output, but the share of developing countries is rising from 20 percent in 2000 to 32.1 percent in 2010.

As per the report, in the last decade, share of major industrialised countries such as the U.S., Japan and Germany in the world manufacturing has fallen. The report said manufacturing output of three developing countries, China, Brazil and India, has grown by almost 10 percent on an average in the last decade.

The UNIDO report said manufacturing output grew by 3.7 percent in the industrialised countries after experiencing a severe decline in 2009. It further said that China's industrial growth was unaffected during the recent economies crisis. "The country accounted for almost half of total manufacturing output of all developing countries in 2010," it said.

Tata Motors to invest 50 Million pounds on UK's R&D base

Tata Motors, the owner of Jaguar Land Rover , is to invest around 50 million pounds in its research & development base in the Midlands over the next two years, in a vote of confidence for UK manufacturing.

Tata has recently developed the Pixel city car, which the company is targeting at European drivers.


The automotive maker plans to hire 100 new engineers at the Tata Motors' European Technical Centre (TMETC), boosting the workforce by more than 40 per cent to 340, as the company steps up its focus on low-carbon technologies.

TMETC has developed Tata's Vista electric vehicle and the Pixel city car, which the company is targeting at European drivers.

The centre is based at the University of Warwick and is operated in partnership with WMG, formerly known as the Warwick Manufacturing Group. Tata has invested 85 million pounds since founding TMETC in 2005.

Tim Leverton, head of advanced and product engineering at Tata Motors, told the Daily Telegraph: "This announcement represents a further demonstration of Tata's long-term commitment to build and develop R&D facilities here in the UK".

What's wrong with India's pharma industry?

When is the last time we heard about a new drug discovery in the Indian pharma industry? Being the world's second-largest market by volume, the Indian pharmaceutical industry is likely to lead the manufacturing sector of India in a few years' time. With the introduction of the Patents Act in 1970 by which the composition patents from food and drugs were removed, the multinational companies streamed out of the market due to lack of patent protection and the Indian firms flourished from then on. However, there are certain grave concerns that pull back the growth momentum of the industry.

Despite the fact that a huge proportion of the world's active pharmaceutical ingredients (API) come from India, the Indian pharmaceutical industry has been haunted by a culture of compliance problems, fraud and endangering patient's lives. Professionalism and ethics have taken a backseat in the growing industry of late. Inadequate regulation and large quantities of spurious drugs have been a problem for the industry for long.

One of the main inadequacy of the Indian pharma industry is the lack of Research and Development support. An underdeveloped new molecule discovery program has been noted as its primary weakness. Even the market leaders such as Ranbaxy and Dr. Reddy's Laboratories spent only 5-10 percent of their revenues on R&D whereas the western pharmaceuticals like Pfizer sets a research budget greater than the combined revenues of the entire Indian pharmaceutical industry.

The country also lacks way behind in qualified molecular biologists when compared to the western industry. Due to the disconnect between curriculum and industry, pharmas in India also lack the academic collaboration that is crucial to drug development in the West.

Biotech plays a big role and acts as pharma's little sister in India. The Indian biotech market is dominated by biopharmaceuticals; 75 percent of 2004-5 revenues came from biopharmaceuticals, which saw 30% growth last year. Inadequate funding for the biotech sector poses a major challenge for the startups in India. The major sources of funds are the government grants and venture capital for the industry. While government grants are difficult to secure, the venture capitalists hesitate to invest due to the expensive and uncertain character of the industry in India.

As in many other industries, the Indian pharmaceutical industry too is witnessing a reverse brain drain of late, and the industry should move forward with the knowledge and experience of these foreign-trained scientists and with the abundance young talents within the country. As the government of India encourages greater Foreign Direct Investment in this sector, analysts feel the growth of the industry will be in at par with the IT industry in India.

Indian entrepreneur dreams shattered by temporary work visas

Ever wondered why are Indian Entrepreneurs coming back home? India seems to be very happy on the return of some of the real talents back home. They backed their reason for happiness as the uprising in the booming economy of India. But the real truth lies somewhere deep beneath. These Indian Entrepreneurs has no intention to reap the advantage of the booming economy. They are home as the temporary visa system has not given them much option and they have failed to pursue their entrepreneurship dreams in U.S.

Indian Entrepreneurs in U.S. are trapped in temporary work visas. This temporary visa does not approve them to start a venture of their own or even change jobs. Around half a million educated and accomplished immigrants are caught up with the temporary work visa. Finally these highly skilled immigrants are left with no choice but to pack their bags and return to India.

Around 1995 and 2005, 25% of Silicon Valley's start ups which had at least one immigrant founder employed almost 4, 50,000 people. The companies generated $52 billion in revenue in 2006.

H1B visas are the most sought after visas in U.S. Every year people from various occupations apply for H 1B visas. In such scenario where the number of application exceeds the number of visas available, U.S. immigration department follows the system of lottery without any logical justification. This bizarre method of selection for H 1B visas has upset most of the Indian Entrepreneurs who has a baggage full of ideas for the U.S. market.

These highly educated graduates from Wharton, Yale are people with innovative thoughts and talents. They have the zeal to make it big for them and for the U.S. market. There dreams are crushed by the strange process of selection adopted by the U.S. authorities. This has come up on account of the fear that they are taking away American jobs. Finally these highly skilled immigrants get trapped in temporary visas and with no choice left but to pack their bags and return to India.

Hardeep Singh fate was sealed by the temporary H1B visas when he quit his high profile job in San Francisco to start Costnomics with his partner Nilesh Patel. Costnomics is a software service promotes which IT financial transparency. He could invest in the company but not take money from it. Like wise Prakash Mishra a temporary H 1B holder invested in a start-up in the Bay Area but could not harvest the monetary benefits out of it. But after struggle for years when Mishra went to become an entrepreneur the company was acquired and he got nothing out of it.

Former Amazon employee Sachin Garg says visa issues prohibited him from pursuing the two business ideas he had built exclusively for the American market. His online book store upRack.com will employ just 10 people right now because he just started it a few months ago. By as close as 2016, he claims the company will grow in revenue to $1billion and employ over 4,000 people. This will ultimately create jobs for the U.S. people as contrast to popular belief.

U.S. economy is favorable to new ideas unlike India. India is susceptible for such innovations. Hence only U.S. provides the desired platform to these budding talents of India. The Indian Entrepreneurs who has spent dollars of money to obtain their degree and pursue their dream are left with no roads to go in U.S.  

80,000-page charge sheet against Raja

To end the long saga of the 2G scam, the CBI and the government legal advocates have decided to file the charge sheet on April 2nd. An 80,000 page charge sheet will be filed against former Communications Minister A. Raja, four former telecom officials and two telecom companies to the Supreme Court on April 2nd. The documents carry the complete details of the parties involved, politicians who were involved, the Bureaucrats who were involved, the corporates companies who were involved, corporate personalities, Media persons and lobbyists and the Petitioners who brought the scam to the lime light. The 60-day deadline for filing the charge sheet expires on April 3.

Earlier the charge sheet was to be submitted on March 31st but the government legal advisor K.K. Venugopal told a Bench of Justices G.S. Singhvi and A.K. Ganguly that the agency was still in the process of readying the charge-sheet. When asked for the reason of the postpone, he said that the persons involved in the case were high profile personalities who vouch for a good defense by raising technical objections at every stage. He said the only way to avoid road blocks from the defense is to have a strong case built on them which has no loop holes.

Venugopal also played safe when Justice Singhvi expressed a desire to peruse the draft charge sheet before it was filed in the special court. He said that if they filed the draft charge sheet to the court then the accused would then claim that the Supreme Court has examined the charge sheet and we do not have the option of seeking discharge.

The accused will be charged under Sections 420 (cheating), 467 and 471 (forgery and passing off forged documents as original) of the Indian Penal Code, and several charges under the Prevention of Money Laundering Act and the Prevention of Corruption Act. The legal advisor has also listed them under conspiracy to defraud, using the first come first serve policy and forgery of official documents.

The charge sheet also lists the Swan telecom company and said that the Swan telecom takeover was against the Reserve Bank of India norms. The penalty under the Foreign Exchange Management Act would be five times the loss caused to the government and the company property can also be confiscated.

However, the probe into the scam has still not seen a complete end with CBI arresting fresh people to add on to their pages. Two more persons Asif Balwa and Rajeev B Agarwal or alleged involvement in money transfer to DMK's Kalaingar TV channel in connection with the 2-G spectrum case. Asif is the younger brother of former Managing Director of DB-Etislat group Shahid Balwa, who has already been arrested by the CBI. Shahid's association with the underworld is being probed by the agency separately.

Further on the current scenario Justice Singhvi has made it very clear that no interference from any quarter would be tolerated. If there was any interference, the CBI could bring it to the court's notice immediately.

India for the first time in the list of Clean Energy Investment

With Giants like China, Germany, U.S., who are dominating the investment market, India has craved its niche into the investment market by growing to a peak of $4 billion in private investment. India is ranked 10th among the G-20 countries.In 2010 global clean energy finance and investment expanded to $243 billion which is 30 percent increase from the previous year. In this year's edition; they examine the financial, investment and technological trends concerning the clean energy economy of the world's leading economies.

According to Pew Charitable Trust, India is also ranked the 10th position for its five year growth rates in renewable energy capacity and seventh position worldwide in the amount of installed capacity. However China outpaced other G-20 members with a record of $ 54.4 billion in investment in 2010. Germany ranked the second position with $ 41.2 billion. U.S. is in third place with $ 34 billion, whereas U.K declined among the G-20 countries. It fell to 13th position from fifth position.

Phyllis Cuttino, director of Pew's Clean Energy Program said ,"Rapid growth and fierce competition have marked the global clean energy sector, in which worldwide clean energy investment and finance has grown 630 percent since 2004. Nations like India, China and Germany, which saw an increase in investments, were attractive to financers because they have national policies that create long-term certainty for investors."

In the year 2011, India's economic growth is 8.6.With theses investment we can hope India will soon be among the top five.

French Spiderman conquers the Burj Khalifa

French specialist climber Alain Robert succeeded in conquering the world’s tallest tower, Dubai’s Burj Khalifa on Monday night, completing the 828m climb in around six-hours.

Robert, known as the French Spiderman, began the climb at 6pm and reached the top of the spire of the building just after midnight. Thousands of spectators gathered to watch Robert reach the tower’s tallest point.

Known for climbing unassisted, Robert agreed to use a harness as stipulated by officials prior to the climb. He also used climbing equipment to scramble up the tower's spire as there is nothing to grip on to on the sheer surface of the spire.

Robert was supposed to begin the climb at 4.30pm, but the wind picked up in Dubai and delayed the start of the climb.

The Burj is the latest in a long line of famous structures conquered by Robert. He has already scaled over 100 skyscrapers and structures including the Eiffel Tower, the Sydney Opera House, Taipei 101. He was arrested and fined after climbing the Petronas Twin Towers in Kuala Lumpur, Malaysia in 1997 – and has since gone on to climb the Willis Tower, in Chicago, One Canada Square in London, and was arrested and expelled from China for scaling the Jin Mao building in Shanghai.

He is no stranger to the UAE either. In February 2003, he legally climbed the 200-metre (656 ft) National Bank of Abu Dhabi, UAE, watched by about 100,000 spectators, and has also tackled the Etisalat building in Abu Dhabi, the ADIA headquarters building.

Website to pay $950,000 for Beatles piracy

The owners of a California Website that sold Beatles songs for 25 cents each before they went on sale legally through iTunes have agreed to pay the band's EMI Group label $950,000 to settle a copyright infringement lawsuit, court papers showed on Monday.

A federal judge ruled last December that Santa Cruz-based Media Rights Technologies violated EMI's copyrights by illegally selling the music of the Beatles and other acts such as Radiohead, Coldplay and Bonnie Raitt on its BlueBeat.com site in 2009.

Media Rights had claimed that BlueBeat.com wasn't posting the original material, but had re-recorded the music and inserted artistic touches based on a technique called "psycho-acoustic simulation."

U.S. District Court Judge Josephine Staton Tucker shot down that argument, labeling it as "obscure and undefined pseudo-scientific language (that) appears to be a long-winded way of describing 'sampling.'

Apple Inc's iTunes store started selling Beatles songs last November, successfully concluding lengthy negotiations for the rights to arguably the most-prized catalog of the rock era.

Messages left with the attorneys for both sides were not immediately returned.

Twitter co-founder named executive chairman

Twitter co-founder Jack Dorsey is returning to the microblogging company to oversee product development, even as one of Twitter's other founding members cuts back his involvement, the company said on Monday.

Dorsey, who co-founded Twitter in 2006 along with Evan Williams and Biz Stone, and served as its first CEO until being replaced by Williams in 2008, will become Twitter's executive chairman, the company said.

Dorsey will also remain chief executive of Square, a separate mobile payment start-up that has also based in San Francisco.

200 million registered accounts

The move represents the latest shuffle among the creators of the popular Web service, which has more than 200 million registered accounts and has been valued at nearly $8 billion by investors buying shares of the privately-held company in the secondary market.

In his new role, Dorsey will return to Twitter "in an everyday role to lead our product development," the company said.

Dorsey's role focusing on products comes about six months after Williams stepped down from the CEO job -- handing the reins to Dick Costolo -- so he could be "completely focused on product strategy," the company said at the time.

Twitter spokesman Matt Graves said in an emailed statement on Monday that Williams "decided a couple of months ago to be less involved day to day at Twitter."

Williams currently serves as a "key advisor" to the company, said Graves.

"He continues to have a close relationship with the company providing strategic advice and, of course, he remains an active board member," Graves said.

Twitter, which allows people to send 140-character text messages, or Tweets, to groups of so-called followers, is one of the Web's most popular social networking services, along with Facebook and Zynga.

The service has become a popular communications tool for celebrities, politicians and businesses, and has played a role in several geopolitical events, such as recent uprisings in the middle east.

In December Twitter was valued at $3.7 billion in a $200 million funding round led by venture capital firm Kleiner Perkins Caufield & Byers. An auction of Twitter shares on the secondary market earlier this month, suggested investors were valuing the shares at $7.7 billion.

Square, the mobile payment company that Dorsey co-founded in 2009, said in a statement that it would remain Dorsey's top priority.

Facebook's Zuckerberg wins residency dispute

Facebook founder Mark Zuckerberg lives in California and not in New York, a judge ruled, a setback to a businessman who claims in a lawsuit that he is entitled to a majority stake in the company.

U.S. District Judge Richard Arcara in Buffalo, New York, on Monday denied businessman Paul Ceglia's claim that his case against Zuckerberg should be heard in state court instead of federal court.

Ceglia of Wellsville, New York, sued Zuckerberg last June, claiming that a contract with Zuckerberg to develop and design a website entitled him to an 84 per cent stake in the privately held social networking site.

The lawsuit over Ceglia's 2003 contract claim survives in federal court in Buffalo, New York, but he must file an amended complaint within two weeks, the judge said in a written opinion.

Ceglia's lawyer was not immediately available to comment on the ruling. Facebook welcomed it and repeated previous statements that it believes the lawsuit is fraudulent.

Federal courts hear cases between residents of different states where the claims exceed $75,000. In general, state courts have larger caseloads and plaintiffs might have more opportunities to negotiate a settlement than in the federal court system.

Palo Alto is Zuckerberg's permanent home 

Lawyers for Zuckerberg and Facebook had argued that Palo Alto, California is his permanent home and asked the judge to deny Ceglia's bid to move the case to a court in Allegany County, New York.

The argument to move the case was based largely on grounds that Zuckerberg had stated in a previous challenge to the origins of Facebook in Massachusetts that he was domiciled in New York.

But the judge said Zuckerberg took a temporary leave of absence in California from Harvard University in 2004 when his domicile was still officially in New York.

"As it turns out, Zuckerberg never did return to Harvard or to New York," the judge said in a written opinion. "Instead, he remained in California where he continues to live today."

Facebook is one of the most popular websites, alongside those of Google Inc, Yahoo! Inc and Microsoft Corp. It also is one of the most closely watched companies by investors eager for a blockbuster initial public offering.

The case is Paul Ceglia v Zuckerberg & Facebook, U.S. District Court for the Western District of New York, No. 10-00569.

"Everyone can share best practices.'' says Brammer.

Few topics are more sensitive for Web users, or more likely to raise concerns in the corridors of Facebook or Google, than how to regulate privacy.

For years the United States and Europe, with around 700 million Internet users between them, have diverged in their approach to policing the Web.

But the two sides are converging in their Web privacy positions, partly through intensive meetings in recent months between regulators from Washington and Brussels.

There are still many specifics to be worked out - final legislative proposals are not expected from the European Union until later this year and the United States in June or July - but officials are confident about steadily narrowing the gap.

"Until recently there was a common belief that our approaches on privacy differed so much that it would be difficult to work together," the EU's justice commissioner, Viviane Reding, said in a recent speech.

"This can no longer be argued."

Differences had been overstated

Experts from both sides gathered again in Brussels last week. Afterwards the U.S. ambassador to the EU, William Kennard, mirrored Reding's thoughts, saying differences between the two sides had been overstated.

"People in Europe thought we were not as concerned as we are about updating our privacy laws," he said, adding that the U.S. has now made its support of stronger privacy rules clear.

The crux of the issue for Europe comes down to delivering strict measures to protect individuals, so that companies must, for example, respect an individual's "right to be forgotten" - ensuring that their data are erased if they so wish.

The United States has tended to prefer giving companies responsibility for policing themselves, with the obligation to sign up to codes of conduct, not to meet specific legislation.

Regulators on both sides say they have moved closer to a common position following U.S. President Barack Obama's endorsement this month of a "privacy bill of rights," which officials hailed as the first time in 40 years that a U.S. administration had backed new baseline privacy protections.

Leveling the Internet

The goal of convergence is two fold: to aim for a level playing field that minimizes "regulatory arbitrage," and to ensure that Web-based companies have clear guidelines, allowing them to grow globally without legislative surprises.

That is particularly important as the Internet becomes an ever larger part of the economy - recent figures from Google indicate that 10 per cent of British gross domestic product will be generated from the Web by 2015, for example.

Yet despite the bullish talk from American and European officials, some privacy experts remain concerned about how political rhetoric, such as the EU's "right to be forgotten," will eventually be translated into concrete policies.

Paolo Balboni, executive director of the European Privacy Association, says he is concerned about how the EU will enforce Reding's declaration this month that all websites targeting EU citizens must adhere to EU laws.

"How will they know if a company is indeed targeting EU citizens?" he asked. "Are they going to oblige end users to identify themselves?"

The merit of the principles will lie in whether they are practically enforceable, he said.

Transparency in Internet privacy

Another open question is how the EU will regulate transparency in Internet privacy.

While the EU wants websites to require user-consent every time their data is used, consent forms tend to be long and difficult to understand, and the EU has remained tight-lipped on what user-consent will look like.

In its effort to narrow gaps, the EU is considering how elements of U.S.-style self-regulation could be integrated into its Internet privacy regime without losing legal rigidity.

While both sides are emphasizing the strides they have made toward convergence, it is clear that differences remain, such as on the EU's right to be forgotten, which clashes with U.S. sensibilities over freedom of information.

And despite all the talk of cooperation, neither side has called for adopting identical policies, suggesting that while the playing field might be leveling, it might not end up flat.

Learn from Foxconn suicides, companies told

Citing worker suicides and injuries at Apple's supplier plants over the last two years,an international study has urged corporates to learn from it and change their wrong approach to managing their supply chains.

Apple is under pressure after reports of suicides and health hazards to workers at its supply plants in China.

Suicides by workers at Foxconn Technologies, one of Apple's biggest suppliers in China, have rattled the biggest technology brand in the world.

Almost 130 workers at plant suffered health problems

Last month, the New York Times reported that over 130 workers at an Apple supply factory in Suzhou suffered severe health problems after poisoning by a chemical called n-hexane.

In its study, the Network for Business Sustainability, an independent research group based at the Richard Ivey School of Business, University of Western Ontario near here, says that ensuring safe working conditions should be the top responsibility of companies that buy from suppliers in other countries.

Companies treat supply chains as opportunities for competitive advantage

Though these companies talk about their commitment to safe working conditions in their supply chains, they are going about it the wrong way.

"Many companies today talk about developing 'sustainable' supply chains, but they're actually talking about managing risk and preventing public relations crises,'' says study co-author Stephen Brammer of the Warwick Business School (Britain).

"Those companies end up implementing costly and ineffective punitive actions against suppliers after labour issues or supply disruptions have already occurred.

"In the end, nobody wins."

Leading companies are just treating their supply chains "as opportunities for competitive advantage", says the study.

"If supplier employees are experiencing high levels of injury, your company should send staff to do on-site training. If some suppliers are less productive than others, don't just drop them. Hold supplier conferences where the laggards can learn from the leaders and everyone can share best practices.'' says Brammer.

Bhaskar Pramanik is Microsoft India chairman

Microsoft announced on Monday the appointment of Bhaskar Pramanik as the chairman for Microsoft India. Pramanik will report to Jean-Philippe Courtois, President of Microsoft International, said a press release.

As chairman, Pramanik will oversee Microsoft's sales, marketing and services subsidiary, provide overall leadership on all Microsoft assets in India and lead their citizenship agenda in close alignment with India's national priorities. 

"Bhaskar comes to Microsoft with a strong reputation as a business leader and organization builder. His deep experience and understanding of the Indian IT industry will be critical to continuing to build our leadership in India, as well as enriching our relationships with customers, partners and government," said Courtois. 

After Ravi Venkatesan quit as Microsoft India chairman last month there were many rumours doing the round as to who would replace him.

Pramanik, who was the managing director of the India operations of Oracle, had quit the company recently "to pursue other opportunities". Prior to that he worked for Sun Microsystems for 13 years as managing director in India and more recently as global vice president, Commercial Systems at the U.S. headquarters. 

He was responsible for growing Sun Microsystems' business in India from under $20 million to over $200 million in just six years and expanding Sun's organizational presence in India from 24 people to more than 1200. He received the Sun Leadership award in 2005 and Chaired the Sun Global Leadership Awards Committee for two years. He has been active in industry bodies including NASSCOM, AMCHAM and CII.

Taking up the new responsibility, Pramanik said he is excited to be part of a company that has such a wide play across industries, segments, products and services.

“These are indeed very exciting times for the IT industry, as well as for India... I look forward to partnering with the business leaders and the entire Microsoft team to grow our business in India and enable the success of all our stakeholders,” he added. 

Microsoft in India has more than 5300 employees housed in two campuses and thirteen offices across the country. It is the largest employee base outside of the U.S. for Microsoft, and its six business units including research, product development, consulting services, sales and marketing services, Microsoft IT, and global technical support services represent the complete Microsoft product lifecycle.

Idea banks on 3G to push up revenues

Idea Cellular, India’s third largest mobile operator, expects higher revenues with the roll out of 3G services across the 11 telecom circles, where it holds the 3G spectrum licenses.

While announcing the launch of 3G services in three circles covering the states of Madhya Pradesh, Chattisgarh, Gujarat and Himachal Pradesh, Idea Cellular’s deputy managing director Himanshu Kapania said on Monday that the company's total invest towards 3G networks and operations is Rs.10,000 crore.

According to Kapania, the Rs.10,000 crore investment also includes Rs.5,800 crore auction fees paid to government for acquiring licenses in 11 circles while the remaining Rs.4,200 crore would be invested in 3G networks and infrastructure.

“We will have 5,000 3G towers by end of March 2011, and will scale up to around 16,000 new towers by March end next year,” Kapania said. He added these towers will help the company’s mobile services to reach around 4,000 towns across India by next year-end.

Besides, Idea will tie-up with select operators in the remaining telecom circles to facilitate its subscribers for uninterrupted 3G services through intra-circle roaming facility.

“We are in talks with select operators that will enable us to work with them via intra-roaming facility,” Kapania informed.

With 13.3 per cent revenue share in the third quarter of this fiscal, the company claims to be the fastest growing operator in India and among the top 10 global operators in terms of minute usage, which is a billion minutes per day.

Kapania further stressed 3G services-led mobile data will provide the next growth opportunity for operators. “Even in developed countries about 25 per cent revenue comes from data and remaining 75 per cent is from voice and India will also have same revenue mix,” he explained.

“India’s data ARPU (average revenue per user) is one of the lowest in the world, and also the penetration of mobile data has remained very low,” Kapania pointed out. And added that there’s a potential market of 3G services, which include high-speed Internet and mobile TV, video on-demand, video calls and conferencing.

Considering the 3G services market in India, Idea has gone a step ahead to attract customers by introducing tariffs based on time as well as data usage for 3G services.

It has also rolled out ‘sachet’ pricing to offer trial packs to customers. Idea has over 86 million subscribers, of which about 5.5 million users are using 3G-enabled handsets, so they are the potential users of 3G services, Kapania said.

The NSE and BSE listed company earns 80 per cent revenues from 11 circles where it has won 2.1 Ghz (3G Spectrum). This include the states of Madhya Pradesh, Chattisgarh, Himachal Pradesh, Maharashtra, Goa, Gujarat, Kerala, Haryana, Uttar Pradesh (East and West), Andhra Pradesh, Jammu & Kashmir, and Punjab.

HCL enters tablet arena with ME

Indian IT major HCL Infosystems Ltd today unveiled its new range of ME Tablets.

Powered by the Android OS, the ME Tablet would enable a converged solution for all mobile computing and entertainment needs, said a press release.

HCL ME Tablet, available in three variants, is a converged powerhouse that is truly light and portable – HCL ME AE7 for the economy users, HCL ME AM7 for the mainstream users and HCL ME AP10 for the performance-preferred users.

The new range of HCL ME Tablets will be packed with Indian content and integrated service with HCL Touch enabling a 24X7 one touch service facility, the release added.

Harsh Chitale, CEO, HCL Infosystems, said, “We are excited to launch the much awaited HCL ME Tablet.

The HCL ME Tablet will be available to both individual and enterprise users with our award winning service and support network. We have put in significant amount of research to understand the Indian user need and have also further strengthened our backend systems to support the product through its lifecycle.”

Price range from Rs. 14990 to Rs. 32, 990

He added that HCL ME Tablets will also be India’s first range of devices with powerful localised content and applications backed by quality customer service.

HCL ME Tablets will be available in stores in Delhi and will go national by end of March this year. The HCL ME Tablet range will start from Rs. 14990 and go up to Rs. 32, 990, added the release.

EBay to buy GSI for $1.96 bn to take on Amazon

Online auction site eBay Inc moved to bolster its ability to take on No. 1 Web retailer Amazon.com Inc with a $1.96 billion takeover bid for e-commerce service provider GSI Commerce.

EBay would gain expertise in helping major retailers fill online orders and build relationships with big toy, electronics and book sellers which have helped Amazon grow.

EBay offers GSI shareholders $29.25 per share in cash

EBay said on Monday it had offered GSI shareholders $29.25 per share in cash, a premium of 50.9 percent from the stock's closing price on Friday.

The deal would be eBay's largest acquisition since it bought Internet phone company Skype for $2.6 billion in 2005, and comes as growth in its main auctions business is slowing.

"It's one of the few fulfillment operations that could rival Amazon," BGC Partners analyst Colin Gillis said. "Amazon is fulfilling its third-party sellers more and more. eBay is all third-party sellers."

On Nasdaq, GSI soared 50.7 percent to close at $29.20, while eBay fell 4.3 percent to $30.34 on concerns it may be paying too much and might eventually need to invest more money on GSI's technology. Both stocks held steady in extended trading.

Amazon shares edged down 1 percent to end at $169.35.

Among GSI's clients are Aeropostale Inc, Toys R Us, and TJX Cos Inc's Marshalls chain.

GSI, which owns Web businesses such as Rue La La and ShopRunner, also provides retailers with technology, payment processing and customer care services for their e-commerce operations.

Online shopping accounts for about 8 percent of total U.S. retail spending, rising 11 percent during the most recent holiday season, according to data firm comScore, almost twice the pace of bricks-and-mortar sales.

EBay estimated in February that its online marketplaces unit is set to grow into a $7-8 billion business by 2013, from $5.7 billion in 2010. In contrast, Amazon pulls in annual sales of more than $30 billion.

PayPal a growth driver for eBay

While PayPal has been a growth driver for eBay, the company has struggled with other deals, such as its purchase of 28.4 percent of classifieds site Craiglist, which led to a court fight after eBay launched its own classifieds business.

Still, Fred Moran, an analyst with Benchmark Capital, called the price "reasonable," saying it comes out to 13 times this year's expected earnings before certain expenses, which he said "is right in line with the e-commerce peer group."

Unloading most of Rue La La

As part of the deal, eBay would sell off GSI's licensed sports merchandise business, as well as 70 percent of Rue La La, which offers one-day-only Web deals to its members, and ShopRunner, a members-only online shopping service that offers free shipping.

EBay said those business were not important to its long-term growth strategy.

Those holdings would become part of a new company run by GSI founder and Chief Executive Michael Rubin. EBay said it would lend Rubin's new company $467 million, bringing the deal's value to $2.4 billion.

EBay said the acquisition, expected to close in the third quarter, would have little effect on its fiscal 2011 adjusted earnings forecast, and boost 2012 earnings. The deal would hurt 2011 net income by 30 cents to 34 cents per share, the company said.

GSI has until May 6 to solicit bids from other parties during the so-called "go shop" period.

While PayPal has been driving eBay's growth for years, the company is also trying to lift its more familiar marketplaces unit -- a high-margin but mature business that connects online buyers and sellers -- especially as Amazon has enjoyed double-digit revenue growth.

The GSI deal follows a number of other e-commerce deals in recent months. Amazon expects to close its purchase of Quidsi, operator of diapers.com, around April 1. In November, Oracle Corp said it would buy e-commerce software company Art Technology Group Inc for $1 billion.

Goldman Sachs & Co, and Peter J. Solomon Company are acting as financial advisers to eBay, while Dewey & LeBoeuf LLP is its legal adviser. Morgan Stanley is advising GSI and Davis Polk & Wardwell LLP is advising a special committee of GSI's board. Morgan, Lewis & Bockius LLP is acting as GSI's legal advisor.

Are you taking off to watch India-Pak match ?

It is no doubt the most awaited match in any Cricket World Cup tournament – the India-Pak semifinals that has become a global news not just because of the sporty element, but also due to the diplomatic dimension of the same.

The match, while bringing the tension and thrill as to who will win, is also bringing a baggage of work tension for many cricket fans - Whether to work or watch cricket. Sadly enough, this knock-out match, a do-or-die one for Indian and Pakistan teams, is falling on a working day, that too when the companies are under pressure for meeting the financial year-end results.

While the entire country is looking forward to this match, the biggest worry for the IT companies is making the employees complete their targets amidst the excitements of the game. A lot of companies are setting screens on their office premise, setting the cafeterias, offering half day holiday/work from home to the employees.

According to SAP Labs Spokesperson, "Our cricket interest group led by employees takes active part in making key matches interesting and fun to watch. As a run-up to the World Cup, we have had an interesting Cricket Quiz by Joy Bhattacharya and a Leadership talk by Nasser Hussain, former Capitan of England Cricket team. To make sure that our employees do not miss out on the exciting match between India and Pakistan, we will be screening it live on a large screen across both our facilities in Bangalore and Gurgaon."

Keshav Murugesh, Group CEO, WNS Global Services shared that the company has been screening the world cup matches in offices from the start of this series, and is taking extra step for keeping the spirits high. 

He said, “The India v/s Pakistan match too has raised a lot of excitement and expectations in everybody's mind, on India reaching the finals. Hence we have arranged for a special screening of the match in all our office cafeterias on big screens and we have also declared Wednesday as ‘Blue Day’, wherein employees can come to work in blue attire to support team India.”

Though there is no official communication from the companies, a few employees have applied for leave on Wednesday, in compensation of a working Saturday. Said an HCL Infosystems employee based in Noida, “Usually when a crucial match is coming, people gather at the cafeteria. However, we have asked our managers to grant leave tomorrow, and we would be working on Saturday.”

Another company, Dell India, feels that such events help in engaging the employees, resulting in increased productivity and not the otherwise. A Dell spokesperson shared that it has arranged for additional viewing screens. To add to the buzz, floor-level fun activities are being planned.

Hyderabad Angels invests in RFID firm Identis

Hyderabad Angels has invested 2 Cr in Hyderabad-based Identis. Founded by Suresh Lingamaneni and Sanjay Panda in 2010, Identis develops custom RFID chips for the manufacturing industry.

Identis offers automatic identification products and solutions for various industry applications and specialises in RFID, biometrics, GPS, modules for manufacturing plants.

Hyderabad Angels is a city-based group of angel investors backed by The Indus Entrepreneurs Hyderabad. It invests in early stage business and also provides mentoring, inputs on strategy as well as execution to the startups.

It typically invests up to 2 crore with seed stage funding between 25 lakhs to 2 crore and early stage between 1 crore to 2 crore and exits over 3 to 5 year time frame through an IPO, merger or strategic acquisition.

In 2010, Nexxoft Infotel Limited which focuses on interactive 3D technologies, games, RFID security and people tracking solutions and enterprise resource planning acquired 75 percent stake Elsoft Technologies Pvt Ltd; Aditya Birla's Minacs acquired Radifinity Information Systems Pvt Ltd which provides asset tracking management using RFID, smart cards, GPS and GP

In 2007, the RFID technology was adopted by HPCL for LPG Cylinder tracking, vehicle tracking by Rashtriya Ispat Nigam and Indian Airlines asset tracking.